Unformatted text preview: FIFO: $113,000 LIFO: $123,500 Average Cost: $117,812.50 Laramie Distribution Cost of Goods Available for Sale: The method resulting in the highest inventory amount for the balance sheet is the FIFO method. The method resulting in the highest cost of goods sold for the income statement is the LIFO...
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- Spring '11
- FIFO and LIFO accounting, $10.00, $8.00, $7.00, $9.00